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Use the following information for the Quick Study below. (Algo) (11-14) [The following information applies to the questions displayed below.] Trey Monson starts a
Use the following information for the Quick Study below. (Algo) (11-14) [The following information applies to the questions displayed below.] Trey Monson starts a merchandising business on December 1 and enters into the following three inventory purchases. Monson uses a perpetual inventory system. Also, on December 15, Monson sells 15 units for $37 each. Purchases on December 7 Purchases on December 14 Purchases on December 21 10 units 20 units $23.00 cost $29.00 cost 15 units @ $31.00 cost QS 5-13 (Algo) Perpetual: Inventory costing with weighted average LO P1 Determine the costs assigned to ending inventory when costs are assigned based on the weighted average method. (Round your per unit costs to 2 decimal places.) December 7 Weighted Average Perpetual Goods purchased Cost of Goods Sold Inventory Balance Date # of units Cost per unit Inventory Value #of units sold Cost per Cost of Goods unit Sold of units Cost per unit Inventory Balance December 14 Average cost December 14 December 15 December 21 Average cost December 211 Tr
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